TOP NEWS
Pioneer Adds Four Quarries
Pioneer Landscape Centers, which has been serving residential and commercial customers in the western United States since 1968, added four new quarries to its operations.
Summit Climbs to Record Quarter
Summit Materials Inc. announced record results for the second quarter 2020. For the three months ended June 27, the company reported net income attributable to Summit Inc. of $57.1 million.
Hill Steps Down at Summit
Summit Materials Inc. announced that Thomas W. Hill plans to step down from his role as president and chief executive officer and as a member of the board, effective Sept. 1. At that time, Anne Noonan will be appointed president and chief executive officer.
MSHA WATCH
The U.S. Department of Labor announced the availability of up to $400,000 in grant funding through its Brookwood-Sago grant program to support education and training to help identify, avoid and prevent unsafe working conditions in, and around, the nation’s mines. Administered by the Department’s Mine Safety and Health Administration (MSHA), the Brookwood-Sago grants will focus on training and training materials on powered haulage (in particular, reducing vehicle-on-vehicle collisions, increasing seat belt use and improving belt conveyor safety), improving safety among contractors and reducing electrocutions.”
USGS STATS
The estimated U.S. output of construction sand and gravel produced and shipped for consumption in the first quarter of 2020 was 173 Mt, an increase of 6% compared with that of the same period of 2019. The estimated production-for-consumption of construction sand and gravel in the first quarter of 2020 increased from that of first quarter 2019 in seven of the nine geographic divisions. Production-for-consumption increased in 29 of the 45 states for which estimates were made.
ECONOMIC INDICATORS
Total construction starts increased 6% in June to a seasonally adjusted annual rate of $641.4 billion. This marks the second consecutive monthly gain in construction starts following the COVID-19 induced declines in March and April. In June, nonresidential building starts gained 6% and starts in the nonbuilding sector moved 27% higher. Residential starts, by contrast, fell 6% during the month. Highway and bridge construction starts were up 8%.
Led by solid single-family production, total housing starts increased 17.3% in June to a seasonally adjusted annual rate of 1.19 million units, according to a report from the U.S. Housing and Urban Development and Commerce Department.
The U.S. Census Bureau reported that construction spending during May 2020 was estimated at a seasonally adjusted annual rate of $1,356.4 billion, 2.1% (±1.0%) below the revised April estimate of $1,386.1 billion. The May figure is 0.3% (±1.5%) above the May 2019 estimate of $1,352.9 billion.
ENERGY
- WTI Crude Oil Futures: 7/23/2020: $41.07/barrel, up $0.32 from week earlier; down $14.81 from year earlier.
- Natural Gas Futures: 7/23/2020: $1.785/MMBtu, up $0.062 from week earlier; down $0.435 from year earlier.
- Retail Diesel: 7/20/2020: $2.433/gal., down $0.005 from week earlier; down from $0.611/gal. a year earlier.
- Electricity: 4/20/2020: Average price to industrial customers 6.41 cents/kilowatt hour; down from 6.52 cents/kilowatt hour a year earlier.
Source: U.S. Energy Information Administration